Ceragon Networks (NASDAQ:CRNT) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Ceragon Networks Ltd. (NASDAQ:CRNT) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.38 and traded as high as $2.89. Ceragon Networks shares last traded at $2.67, with a volume of 788,067 shares.

Wall Street Analysts Forecast Growth

CRNT has been the topic of several recent research reports. Weiss Ratings raised shares of Ceragon Networks from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Zacks Research upgraded Ceragon Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Ceragon Networks in a research note on Tuesday, May 19th. Wall Street Zen upgraded Ceragon Networks from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $3.00 price objective on shares of Ceragon Networks in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.75.

Ceragon Networks Price Performance

The stock has a 50-day moving average price of $2.69 and a 200-day moving average price of $2.38. The firm has a market capitalization of $228.13 million, a PE ratio of -125.50 and a beta of 1.35.

Ceragon Networks (NASDAQ:CRNT) last released its earnings results on Wednesday, April 15th. The communications equipment provider reported $0.01 EPS for the quarter. The company had revenue of $85.00 million during the quarter. Ceragon Networks had a positive return on equity of 2.27% and a negative net margin of 0.73%. As a group, equities research analysts predict that Ceragon Networks Ltd. will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ceragon Networks

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Ceragon Networks by 49.1% during the third quarter. BNP Paribas Financial Markets now owns 15,817 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 5,211 shares during the last quarter. HRT Financial LP lifted its position in shares of Ceragon Networks by 44.3% in the 4th quarter. HRT Financial LP now owns 19,660 shares of the communications equipment provider’s stock worth $41,000 after buying an additional 6,039 shares during the last quarter. Aristides Capital LLC lifted its position in shares of Ceragon Networks by 4.5% in the 4th quarter. Aristides Capital LLC now owns 141,130 shares of the communications equipment provider’s stock worth $296,000 after buying an additional 6,130 shares during the last quarter. Tamar Securities LLC boosted its holdings in shares of Ceragon Networks by 67.3% in the 4th quarter. Tamar Securities LLC now owns 17,016 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 6,848 shares during the period. Finally, WINTON GROUP Ltd boosted its holdings in shares of Ceragon Networks by 11.2% in the 4th quarter. WINTON GROUP Ltd now owns 97,834 shares of the communications equipment provider’s stock valued at $205,000 after buying an additional 9,867 shares during the period. 13.31% of the stock is currently owned by institutional investors.

About Ceragon Networks

Ceragon Networks Ltd. is a global provider of wireless backhaul solutions, specializing in high-capacity, low-latency connectivity for mobile operators and private networks. The company designs and manufactures a portfolio of microwave and millimeter-wave equipment that serves as a fiber alternative for carrying voice, data and video traffic between cell sites and core networks. Ceragon’s solutions are engineered to support the rigorous performance requirements of modern 4G and 5G deployments, with an emphasis on scalability, reliability and efficient spectrum utilization.

The company’s product lineup includes point-to-point and multi-point radio platforms, as well as software-driven network management tools that enable operators to plan, deploy and monitor end-to-end transport networks.